Question

Steve opens a bank account with a simple annual interest rate of 5%. After four year, how much interest will Steve earn on an initial deposit of $800?

$160
$140
$60
$40

Answer 1

The formula of the simple interest is I = Prt, where

P is the initial deposit
r is the annual rate in decimal
t is the time of investment

Answer 2

Steve opens a bank account with a simple annual interest rate of 5%

r = 5% = 5 ÷ 100 = ?

Answer 3

@Madisonp What would r = 5% = 5 ÷ 100 = ?

Answer 4

Are u still there?

Answer 5

yes

Answer 6

Ok what would r = 5% = 5 ÷ 100 equal ?

Answer 7

i don't know

Answer 8

160

Answer 9

160 is the answer to the question you posted

Answer 10

is it right

Answer 11

Yes

Answer 12

Thank You

Answer 13

I gave you best response

Answer 14

YOU WELCOME